Baird analyst Brian Skorney raised the firm’s price target on Reata Pharmaceuticals to $85 from $40 and keeps a Neutral rating on the shares. The analyst said the approval of Skyclarys (omaveloxolone) ends some pretty dramatic debates and stock moves. With the regulatory decision in the rearview, focus now is on launch. The FDA label looks fairly clean and consistent with what is already known about omav’s profile and with its addressable market, the U.S. opportunity could approach $1B.
Published first on TheFly
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